The election's over but not the corruption
Or maybe it's the politics in Nigeria that's not over yet.Nigeria fuel shortage cripples businesses, banks and flights
Nigeria is being crippled by the fuel shortage that the country has been experiencing for more than a month…
The party of President-elect Muhammadu Buhari has accused the outgoing government of "sabotage" for failing to deal with the crisis…
Waiting for fuel in Lagos
Most Nigerian businesses and homes rely on diesel-powered generators because of the poor electricity infrastructure.
The shortage means that Africa's biggest economy is slowly grinding to halt, says the BBC's Will Ross in Lagos.
Three of the country's mobile phone companies… have warned that the fuel scarcity could effect their services as they were finding it difficult to supply diesel to the base stations…
It appears the fuel importers and marketers who operate a multi-billion dollar scam are blackmailing the government into agreeing to one more massive payout as they are not sure how much longer the fuel subsidy racket will go on.
They are literally shutting down the nation saying they are owed $1bn in arrears, but no-one gets to see how that figure is worked out. Many government officials, including employees of the state fuel company, are so intertwined in the fraud it is hard to know who is scamming who.
One thing is clear. Nigerians across the country trying earn a living to feed their families are facing a new level of hardship.
At the heart of the shortage is a row over the payment to wholesalers of the difference between the subsidised pump price and the international market price.
The incoming president is inheriting one hell of a mess…
It is thought that President-elect Buhari, who takes power on Friday, may move to end the petrol subsidy and so the wholesalers are trying to get something from the outgoing administration.
The opposition All Progressives Congress (APC) thinks government inaction is deliberate so that Mr Buhari will take over a "nation in deep crisis"…
The People's Democratic Party of outgoing President Goodluck Jonathan says that it is the opposition which is behind the crisis "to create an impression that the APC is inheriting... a complete system breakdown"…
A 2-minute video report from the BBC:
Why Nigerians are queuing for fuel
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Labels: corruption, economics, Nigeria, politics
posted by Ken Wedding @ 10:20 AM
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